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August 11, 2005 Stock Pick: Hoku Scientific, Inc. (HOKU)

Stock Price: $6.22

Hoku Scientific, Inc. designs, develops and manufactures membrane electrode assemblies (MEAs) and non-fluorinated membranes for proton exchange membrane (PEM) fuel cells.

HOKU went public on August 5th, the company originally planned to go public between $11 and $13 a share before dropping it to $8 and then finally going public at $6.00 per share. HOKU ran to $7.00 on August 8th.

We believe HOKU will eventually reach its originally planned IPO price of around $12. There are only 3.5 million shares in the float, HOKU will move fast once volume picks up.

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